Crypto exchange Bitget will cease services for Japanese residents, progressively restricting accounts from November 1 and forcibly closing open positions by December 31. This move follows warnings from Japanese regulators regarding unregistered services.
The exit of a significant crypto exchange like Bitget from Japan highlights the stringent regulatory environment for digital asset platforms in the country, potentially impacting user access to services and signaling a cautious approach by global exchanges towards the Japanese market.
Crypto exchange Bitget has announced its withdrawal from the Japanese market, ceasing services for residents of Japan. The exchange stopped accepting new registrations from Japanese users and will begin progressively restricting existing accounts starting November 1. Any positions remaining open by December 31 will be forcibly closed.
Users who believe they have been incorrectly identified as Japanese residents must complete a Level 2 identification, including address verification, by November 1. Failure to do so will result in their accounts being permanently classified as belonging to Japanese residents.
Bitget stated that users will receive further instructions via email regarding the necessary procedures and asset management. This decision follows multiple warnings from Japanese financial authorities. The Financial Services Agency (FSA) had previously cautioned Bitget in March 2023 and again in November 2024 for allegedly offering crypto services to Japanese residents without the required registration.
Additionally, in June 2025, the Kanto Local Finance Bureau, a regional branch of Japan's Ministry of Finance, issued a warning to BTG Technology Holdings Limited, identified as the provider of services under the Bitget name, for soliciting online over-the-counter derivatives transactions without being registered.